Paytm offers personal loans that can be availed quickly and easily through its mobile app in just 2 minutes. It is a convenient option for borrowers who need funds for various purposes like medical emergencies, travel, home renovation, or debt consolidation.
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Paytm Personal Loan interest rates can vary depending on several factors, including:
Note: Paytm doesn't publicly disclose a fixed interest rate range. The exact interest rate applicable to you will be displayed during the loan application process.
Check out more on personal loan interest rates on the linked page.
Are you looking for a personal loan?
To avail a personal loan from Paytm, you must meet certain eligibility criteria:
Note: You can check your eligibility by searching for ‘Personal Loan’ on the Paytm app.
Check out more on the Personal Loan Eligibility Criteria on the linked page.
Applying for a Paytm personal loan is a straightforward process with minimal documentation required. You just need to:
The entire process is paperless and can be done directly on your mobile phone.
A Personal Loan EMI Calculator is a tool that helps borrowers estimate the monthly payments they will need to make on a personal loan. It takes into account the loan amount, interest rate, and loan tenure to calculate the EMI.
Monthly EMI | ₹86 |
Principal Amount | ₹1,000 |
Total Interest | ₹32 |
Total Amount | ₹1,032.00 |
To use a personal loan EMI calculator, you need to:
Not sure of your credit score? Check it out for free now!
Here is a table showing the comparison of personal loan interest rates of Paytm with other lenders.
Lenders | Interest Rate (p.a.) |
---|---|
State Bank of India | 11% onwards |
Axis Bank | 10.49% onwards |
Bank of Baroda | 10.90% onwards |
Kotak Bank | 10.99% onwards |
IDFC Bank | Starts at 10.49% |
ICICI Bank | 10.50% onwards |
Indian Bank | 10.49% onwards |
Induslnd Bank | 10.49% onwards |
Bajaj Finserv | 11.00% onwards |
Federal Bank | 11.49% onwards |
IDBI Bank | 11% onwards |
Indian Overseas Bank | 12.50% onwards |
Central Bank of India | 10.95% onwards |
Ambit Finvest | As per the business requirements |
Loanbaba | 10.99% onwards |
Pocketly | 12% onwards |
Fullerton | 11.99% onwards |
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Note: The interest rates mentioned are subject to change. Do visit the website for more information.Paytm offers a flexible personal loan that can cater to a wide range of financial requirements. Here are some common uses:
Check other personal loan options from other payment apps below:
Do you need an instant loan?
Paytm Personal Loan offers a hassle-free and convenient borrowing experience with the following features:
With Paytm, you can get your personal loan disbursed in just 2 minutes and applying for a Paytm Personal Loan is quick and easy.
Here are the steps:
Step 1: Enter PAN Number: Start by providing your PAN number on the Paytm app.
Step 2: Get Your Loan Offer: Based on your details, Paytm will instantly generate a loan offer tailored to your needs.
Step 3: Share Bank Account Details: Safely share your bank account information to complete the process.
Step 4: Completed: Your loan application will be submitted. You'll receive a notification once your loan is approved.
Follow the below-mentioned steps to apply for a Personal Loan for teachers:
Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
Step 5: Enter your work details (Including company name, years of service and Designation)
Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to apply for a personal loan? Take the next step!
Want to know more? You can check more on different loan types available by various lenders from the table below:
Yes, Paytm is a regulated entity and adheres to strict security protocols. However, like with any financial transaction, exercise caution and avoid sharing sensitive information.
To close your Paytm personal loan, prepay the entire outstanding amount before the loan tenure ends. Contact Paytm customer support for exact procedures and potential prepayment charges.
The maximum loan amount varies based on individual eligibility. Typically, it ranges from ₹10,000 to ₹5 lakh, but this can change.
Paytm partners with various financial institutions to offer personal loans. Some of the lenders are: Hero FINCORP, Tata Capital, Aditya Birla Capital, SMFG India Credit, Poonawalla FINCORP, IndusInd Bank, Indifi, HSBC, fibe, HDFC Bank, Incred finance.
Paytm conducts e-KYC verification using your Aadhaar number to verify your identity and address.
The interest rate for a Paytm personal loan varies based on factors like credit score, loan amount, and tenure. It's displayed during the loan application process.
The loan amount is typically transferred to the bank account linked to your Paytm wallet.
The loan amount is typically transferred to the bank account linked to your Paytm wallet.
Common fees include processing fees and potential prepayment charges. These fees cover administrative costs.
To increase your chances of an instant loan, maintain a good credit score, provide accurate information during the application process, and ensure sufficient funds in your bank account.
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